China Industrial Hoses Market Projected to Reach US$ 2.4 Billion by...

China Industrial Hoses Market Projected to Reach US$ 2.4 Billion by 2033

Posted 2024-06-05 06:17:29

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The China Industrial Hoses Market is poised for significant growth due to the erosive nature of crude oil and gas, which often leads to the erosion of linings and necessitates regular hose installations. This increased demand for replacement units is driven by the corrosive properties of these substances. To meet the challenges posed by such demanding applications, the market is witnessing a notable rise in the use of superior-grade components, including high-quality polymers, advanced composites, and robust steel materials.

The China industrial hoses market is anticipated to produce approximately US$ 1.09 billion in sales by 2022. Infrastructure construction, increased PVC usage, and rising demand for strong industrial hoses for important applications in a range of industries will benefit the regional market. It is predicted to generate US$ 2.4 billion by 2023, with a 7.4% CAGR from 2023 to 2033.

It is thought that industrial hose revenues in China have climbed as well, with domestic demand accounting for more than 55% of total sales and consumption in the country. Export limitations could be relaxed in the coming years. The oil and gas industry is a major market for industrial hoses.

Linings may be eroded and regular hose installation will be necessary due to the nature of crude oil and gas, which is corrosive, which will increase demand for replacement units. Industrial hose sales are anticipated to increase significantly as a result of the use of superior grade components such polymers, composites, and steel.

Industrial hoses must now be used at extremely high pressure and temperature as a result of the development of cryogenics within HVAC, commercial air separation facilities, and medicine. For the same, steel as well as braided hose kinds have been preferred. The medical and life sciences industries, which use cryogenics along with cold storage systems, are projected to be the driving force behind the demand.

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Key Takeaways from the Market Study

· The industrial hoses market had year-over-year expansion of 5.8% in 2022 thanks to the 6.8% increase in demands from the power application category between 2018 and 2022.

· In 2022, the market for lubricant hoses is anticipated to grow by roughly 20.7%.

· In 2023, it is anticipated that silicone and PTFE polymers would account for more than 33.1% of global market revenue.

· Customers will continue to favor medium pressure input, which will account for more than 30.5% of sales by 2022.

· In 2022, the sector for automotive end-user applications is anticipated to have the biggest market share, exceeding 19.2%.

· China had almost 11.2% of the worldwide industrial hoses market in 2022, which can be ascribed to the country’s robust domestic demand (which represents more than 55.4% of the country’s total sales).

“The market for industrial hoses in China will be significantly influenced by the transportation of vital fluids under strict pressure requirements as well as demand from the oil and gas, construction, and cryogenics industries.” remarks an FMI analyst.

Competitive Landscape

Companies involved in the industrial hoses sector in China are trying to introduce new goods, secure new supply agreements, and form strategic alliances to increase their product production capacity and meet the demand of a growing customer base.

Prominent players in the China industrial hoses market are:

· Parker Hannifin Corporation

· Eaton Corporation

· Balflex LLC

· Tubes International Sp Z.O.O

· Spirax – Sarco Engineering Plc

· Comflex Industries Co., Ltd.

· Cjan Fluid Technology Co., Ltd.

· Taizhou Changli Resin Tube Co., Ltd.

· Zhuai Patel Technology Co., Ltd.

· Qingdao Everflex Rubber & Plastic Co., Ltd

· Zheijang Helen Garden Co., Ltd

· Chinaust Plastic Products Co., Ltd

· Qingdao Eastop Plastic Products Co., Ltd.

· Suko Plastic

· Changchun FAW Sihuan procurement and Supply Co., Ltd

· Rehau Group AG

· Trelleborg AB

· CEJN AB

· LUCOHOSE CO., LTD

· Polyhose India Private Limited

· Gates Corporation

· Kuriyama Holdings Corporation

· Continental AG

Some key developments of the leading companies in this market are:

· Eaton bought a sizable ownership stake in Jiangsu Ryan Electrical, a Chinese power distribution company, in 2023. The United States power management business revealed it had finished buying a 49 percent ownership in Jiangsu Ryan Electrical Co. Ltd., a Chinese company that makes power distribution as well as sub-transmission transformers. Ryan will be able to leverage Eaton’s extensive worldwide distribution network in order to better service its clients in Asia Pacific and across the world.

· In 2020, Eaton Corporation added three new oil and gas well monitoring products to its portfolios, including the 3″ ID x 10,000 PSI Black Gold® 10k Choke as well as Kill Hose. The design was functional for situations involving choke and kill as well as extended contact with fire.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the China industrial hoses market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the China industrial hoses market, the market is segmented on the basis of fiber by material (plastics & polymers, steel, braiding yarn), product type (tank water hoses, gardening hoses, fuel hoses) and application (commercial, plumbing, residential plumbing and gardening)

Key Segments:

By Material:

· Plastics & Polymers

· Steel

· Braiding Yarn

· Composites

By Product Type:

· Tank Water Hoses

· Gardening Hoses

· Fuel Hoses

· Diving Hoses

· Brake Hoses